Your Localized Market Report

Phoenix, AZ 85024

Single-Family Homes

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Phoenix, AZ 85024

Fri Jan 21 2022
This week the median list price for Phoenix, AZ 85024 is $562,000 with the market action index hovering around 79. This is less than last month's market action index of 82. Inventory has held steady at or around 17. Click here to stay informed with the Phoenix market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Phoenix, AZ 85024

Fri Jan 21 2022
This week the median list price for Phoenix, AZ 85024 is $562,000 with the market action index hovering around 79. This is less than last month's market action index of 82. Inventory has held steady at or around 17. Click here to stay informed with the Phoenix market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $562,000
Median Price of New Listings $563,500
Per Square Foot $285
Average Days on Market 21
Median Days on Market 7
Price Decreased 24%
Price Increased 0%
Relisted 6%
Inventory 17
Median Rent $2,700
Market Action 79
Strong Seller's Market

We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move from these levels.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$895,000 3,097 0.5 - 1 acre 4 3 15 3 1 0
$587,499 2,076 4,500 - 6,500 sqft 3 2.3 29 2 1 24
$527,000 2,149 4,500 - 6,500 sqft 4 2.5 22 2 2 21
$455,000 1,396 4,500 - 6,500 sqft 3 2 36 3 1 0